News
Market Watch | U.S. adds 252,000 jobs in December as wages slip
The U.S. added 252,000 new jobs in December to extend the strongest streak of hiring since the mid-1990s, but wages fell and more people dropped out of the labor force to tarnish an otherwise excellent employment report.
Econ Comments & Analysis
Fortune | The shale oil revolution is in danger
Oil producers and Wall Street analysts claim the setback in the fracking industry brought on by the collapse in oil prices will be brief and minor. Don’t believe them.
Real Clear Markets | Cheer Up, There's a Booming Economy Somewhere
Lost amid the fuss over the FOMC's latest public attempts at Greenspanisms (saying nothing while saying a lot about a little; "patience" vs. "considerable time" in this instance) was news of the latest attempt at establishing a rate floor. The ECB's rate floor has garnered a great deal of attention, of course, simply as a fact of its nominally negative rate - a world's first unleashed in June. The Federal Reserve would very much like to replicate that operative function, though not quite as yet as a negative rate.
Friday, January 9, 2015
Health Care
Econ Comments & Analysis
The Daily Signal | What You Need to Know About the Fight to Make Members of Congress Enroll in Obamacare
For years, Republicans have made the case that members of Congress and their staffs are getting special treatment under Obamacare. Their complaint stems from a 2013 decision by the federal Office of Personnel Management that allowed more than 12,000 congressional employees, their spouses and dependents to purchase health insurance from D.C.’s small business exchange.
The Daily Signal | What You Need to Know About the Fight to Make Members of Congress Enroll in Obamacare
For years, Republicans have made the case that members of Congress and their staffs are getting special treatment under Obamacare. Their complaint stems from a 2013 decision by the federal Office of Personnel Management that allowed more than 12,000 congressional employees, their spouses and dependents to purchase health insurance from D.C.’s small business exchange.
Monetary
News
Market Watch | Fed's Evans: Still no hurry to hike in wake of December jobs report
Charles Evans, the president of the Chicago Fed, said Friday the December jobs report did not alter his view that the U.S. central bank should wait until 2016 to raise short-term interest rates. "I just don't see why we should be in a hurry to move off our current accommodative policy," Evans said in an interview on CNBC.
Market Watch | Kocherlakota says Fed shouldn't raise rates this year
Minneapolis Fed President Narayana Kocherlakota on Thursday said the central bank shouldn't lift interest rates this year, a view he's stated before.
Econ Comments & Analysis
Bloomberg View | Why the Fed Worries About Others
As expected, Wednesday’s release of the last Federal Reserve minutes has affected the financial markets. Most commentary has focused on the central bank’s continued support for risk assets -- an important contributor to the stock market’s impressive recovery this week. But another aspect also warrants attention: the extent to which Fed officials are monitoring and worrying about what’s going on outside the U.S.
Market Watch | Fed's Evans: Still no hurry to hike in wake of December jobs report
Charles Evans, the president of the Chicago Fed, said Friday the December jobs report did not alter his view that the U.S. central bank should wait until 2016 to raise short-term interest rates. "I just don't see why we should be in a hurry to move off our current accommodative policy," Evans said in an interview on CNBC.
Market Watch | Kocherlakota says Fed shouldn't raise rates this year
Minneapolis Fed President Narayana Kocherlakota on Thursday said the central bank shouldn't lift interest rates this year, a view he's stated before.
Econ Comments & Analysis
Bloomberg View | Why the Fed Worries About Others
As expected, Wednesday’s release of the last Federal Reserve minutes has affected the financial markets. Most commentary has focused on the central bank’s continued support for risk assets -- an important contributor to the stock market’s impressive recovery this week. But another aspect also warrants attention: the extent to which Fed officials are monitoring and worrying about what’s going on outside the U.S.
Taxes
Econ Comments & Analysis
Wall Street Journal | Lost amid the fuss over the FOMC's latest public attempts at Greenspanisms (saying nothing while saying a lot about a little; "patience" vs. "considerable time" in this instance) was news of the latest attempt at establishing a rate floor. The ECB's rate floor has garnered a great deal of attention, of course, simply as a fact of its nominally negative rate - a world's first unleashed in June. The Federal Reserve would very much like to replicate that operative function, though not quite as yet as a negative rate.
The sharp drop in gasoline prices over the past few months is providing a rare political opening for state and federal officials who want to raise gasoline taxes to repair highways and boost construction jobs.
Wall Street Journal | Lost amid the fuss over the FOMC's latest public attempts at Greenspanisms (saying nothing while saying a lot about a little; "patience" vs. "considerable time" in this instance) was news of the latest attempt at establishing a rate floor. The ECB's rate floor has garnered a great deal of attention, of course, simply as a fact of its nominally negative rate - a world's first unleashed in June. The Federal Reserve would very much like to replicate that operative function, though not quite as yet as a negative rate.
The sharp drop in gasoline prices over the past few months is providing a rare political opening for state and federal officials who want to raise gasoline taxes to repair highways and boost construction jobs.
Employment
News
Wall Street Journal | Jobs Report: U.S. Adds 252,000 Jobs; Unemployment Falls to 5.6%
U.S. employers added to payrolls at a solid pace last month, a sign of steady momentum for the labor market after the strongest year of job growth in 15 years.
Econ Comments & Analysis
Forbes | When Did We Get Too Proud For Entry-level Jobs?
Hidden in the debate over raising the minimum wage, paying a living wage, fast food workers fighting for $15 per hour, and much of the debate over economic inequality is a simple question about the balance between payment for services and the value of those services. Should people be paid what their labor is worth to their employer, what they feel they deserve, or enough to support some arbitrary standard of living? What all this makes me wonder is: when did we get too proud for entry-level jobs?
Market Watch | ‘Amazing’ jobs report, apart from wages, economists say
Here is a roundup of comments from economists about the December payrolls report, released Friday by the Labor Department.
Blogs
Wall Street Journal | Is the Skills Gap Real?
U.S. unemployment remains elevated, yet companies have been complaining for years that they can’t find employees with the skills they need. Whether the skills gap is about perception or reality is among the labor market’s key questions for the coming year.
Wall Street Journal | Jobs Report: U.S. Adds 252,000 Jobs; Unemployment Falls to 5.6%
U.S. employers added to payrolls at a solid pace last month, a sign of steady momentum for the labor market after the strongest year of job growth in 15 years.
Econ Comments & Analysis
Forbes | When Did We Get Too Proud For Entry-level Jobs?
Hidden in the debate over raising the minimum wage, paying a living wage, fast food workers fighting for $15 per hour, and much of the debate over economic inequality is a simple question about the balance between payment for services and the value of those services. Should people be paid what their labor is worth to their employer, what they feel they deserve, or enough to support some arbitrary standard of living? What all this makes me wonder is: when did we get too proud for entry-level jobs?
Market Watch | ‘Amazing’ jobs report, apart from wages, economists say
Here is a roundup of comments from economists about the December payrolls report, released Friday by the Labor Department.
Blogs
Wall Street Journal | Is the Skills Gap Real?
U.S. unemployment remains elevated, yet companies have been complaining for years that they can’t find employees with the skills they need. Whether the skills gap is about perception or reality is among the labor market’s key questions for the coming year.
Budget
Econ Comments & Analysis
CBO | Monthly Budget Review for December 2014
The federal government’s budget deficit was $175 billion for the first three months of fiscal year 2015, $3 billion more than the shortfall recorded in the same period last year, CBO estimates. Revenues and outlays were both higher (by 11 percent and 9 percent, respectively) than they were at the same point in fiscal year 2014.
CBO | Monthly Budget Review for December 2014
The federal government’s budget deficit was $175 billion for the first three months of fiscal year 2015, $3 billion more than the shortfall recorded in the same period last year, CBO estimates. Revenues and outlays were both higher (by 11 percent and 9 percent, respectively) than they were at the same point in fiscal year 2014.
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